Leases (Tables)

9 Months Ended

Jun. 30, 2020

Leases [Abstract]

Other Pertinent Information Related to Leases

For the three and nine months ended June 30, 2020, we did not have material short-term lease costs or variable lease costs.

	Three Months Ended June 30, 2020		Nine Months Ended June 30, 2020
	(In thousands)
Finance lease cost	$	197	$	376
Operating lease cost	10,371		30,461
Total lease cost	$	10,568	$	30,837

Our ROU assets and lease liabilities are presented as follows on the condensed consolidated balance sheets (unaudited):

	Balance Sheet Classification	June 30, 2020
		(In thousands)
Assets
Finance leases	Net Property, Plant and Equipment	$	8,554
Operating leases	Deferred charges and other assets	225,311
Total right-of-use assets		$	233,865
Liabilities
Current
Finance leases	Current maturities of long-term debt	$	157
Operating leases	Other current liabilities	33,884
Noncurrent
Finance leases	Long-term debt	8,479
Operating leases	Deferred credits and other liabilities	200,390
Total lease liabilities		$	242,910

Other pertinent information related to leases was as follows. During the nine months ended June 30, 2020, amounts paid in cash for our finance leases were not material.

	Nine Months Ended June 30, 2020
	(In thousands)
Cash paid amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	28,011
Right-of-use assets obtained in exchange for lease obligations
Finance leases	$	6,143
Operating leases	$	23,628

The following table presents our weighted average remaining lease term for our leases.

	June 30, 2020
Weighted average remaining lease term (years)
Finance leases	19.36
Operating leases	10.69

The following table represents our weighted average discount rate:

	June 30, 2020
Weighted average discount rate
Finance leases	8.02	%
Operating leases	2.91	%

Schedule of Finance Lease Liability Maturities

Maturities of our lease liabilities as of June 30, 2020, presented on a rolling 12-month basis, were as follows:

	Total		Finance Leases		Operating Leases
	(In thousands)
Year 1	$	39,017	$	738	$	38,279
Year 2	37,983		749		37,234
Year 3	33,112		759		32,353
Year 4	26,386		770		25,616
Year 5	17,607		781		16,826
Thereafter	139,172		12,862		126,310
Total lease payments	293,277		16,659		276,618
Less: Imputed interest	50,367		8,023		42,344
Total	$	242,910	$	8,636	$	234,274
Reported as of June 30, 2020
Short-term lease liabilities	$	34,041	$	157	$	33,884
Long-term lease liabilities	208,869		8,479		200,390
Total lease liabilities	$	242,910	$	8,636	$	234,274

Schedule of Operating Lease Liability Maturities

Maturities of our lease liabilities as of June 30, 2020, presented on a rolling 12-month basis, were as follows:

	Total		Finance Leases		Operating Leases
	(In thousands)
Year 1	$	39,017	$	738	$	38,279
Year 2	37,983		749		37,234
Year 3	33,112		759		32,353
Year 4	26,386		770		25,616
Year 5	17,607		781		16,826
Thereafter	139,172		12,862		126,310
Total lease payments	293,277		16,659		276,618
Less: Imputed interest	50,367		8,023		42,344
Total	$	242,910	$	8,636	$	234,274
Reported as of June 30, 2020
Short-term lease liabilities	$	34,041	$	157	$	33,884
Long-term lease liabilities	208,869		8,479		200,390
Total lease liabilities	$	242,910	$	8,636	$	234,274

Schedule of Future Minimum Lease Payments for Capital Leases

The future minimum lease payments as of September 30, 2019 were as follows:

	Operating Leases(1)		Capital Lease
	(In thousands)
2020	$	21,017	$	243
2021	20,416		248
2022	19,370		253
2023	18,071		258
2024	15,718		263
Thereafter	105,544		4,343
Total minimum lease payments	$	200,136	5,608
Less amount representing interest			3,018
Present value of net minimum lease payments			$	2,590

(1)

Future minimum lease payments do not include amounts for fleet leases and other de minimis items that can be renewed beyond the initial lease term. The Company anticipates renewing the leases beyond the initial term, but the anticipated payments associated with the renewals do not meet the definition of expected minimum lease payments and therefore are not included above. Expected payments are $17.6 million in 2020, $18.0 million in 2021, $11.8 million in 2022, $8.5 million in 2023, $5.4 million 2024 and $2.7 million thereafter.

Schedule of Future Minimum Rental Payments for Operating Leases

The future minimum lease payments as of September 30, 2019 were as follows:

	Operating Leases(1)		Capital Lease
	(In thousands)
2020	$	21,017	$	243
2021	20,416		248
2022	19,370		253
2023	18,071		258
2024	15,718		263
Thereafter	105,544		4,343
Total minimum lease payments	$	200,136	5,608
Less amount representing interest			3,018
Present value of net minimum lease payments			$	2,590

(1)

Future minimum lease payments do not include amounts for fleet leases and other de minimis items that can be renewed beyond the initial lease term. The Company anticipates renewing the leases beyond the initial term, but the anticipated payments associated with the renewals do not meet the definition of expected minimum lease payments and therefore are not included above. Expected payments are $17.6 million in 2020, $18.0 million in 2021, $11.8 million in 2022, $8.5 million in 2023, $5.4 million 2024 and $2.7 million thereafter.